Ulsan City Tightens Efforts to Secure 5 National Fund Projects... Attends Ministry of Economy and Finance's 'Local Finance Council'

Ulsan City is tightening its efforts to secure national funding for the next year.

On the 19th, Ulsan City announced that it attended the Local Finance Council hosted by the Ministry of Economy and Finance to propose major national funding projects for 2024.

The Local Finance Council is held annually as an opportunity for the Ministry of Economy and Finance to directly hear opinions on major pending projects from each local government before the full government budget review and reflection process begins.

This year, the council is held from May 17 to 24, with the Budget Director and Budget Review Officer of the Ministry of Economy and Finance, as well as deputy heads of cities and provinces from local governments attending to exchange opinions on five major projects per local government.

On the morning of the 19th, Ulsan City was represented at the meeting by Deputy Mayor for Economic Affairs An Hyo-dae, Planning and Coordination Office Director Seo Nam-gyo, and three department heads, who explained the necessity of reflecting national funding for the city’s core projects and the justification for project implementation.

The projects proposed by Ulsan City include four new projects amounting to 11.75 billion KRW and one ongoing project amounting to 19.1 billion KRW, totaling five projects worth 30.85 billion KRW.

The major projects are ▲ Establishment of the Yeongnam Region Global Skilled Technology Promotion Institute ▲ Construction of an underground pipeline on-site safety management system at Ulsan National Industrial Complex ▲ Development of an online platform for hydrogen construction and industrial machinery evaluation ▲ Commercialization of multi-omics-based personalized diagnosis and treatment technology for intractable cancers ▲ Expansion and relocation of the Ulsan Creative Economy Innovation Center startup hub space.

Deputy Mayor for Economic Affairs An Hyo-dae stated, “Many project budgets are adjusted through the Ministry of Economy and Finance’s internal review, so early response is very important for securing national funding,” and added, “We will do our utmost to ensure that not only the projects proposed at this council but also the city’s key projects are definitely reflected in the government’s budget plan.”

The national budget for 2024 will be finally decided on December 3 after the government submits the budget proposal to the National Assembly by September 1 and the National Assembly conducts review and approval.

Ulsan City Hall.

This content was produced with the assistance of AI translation services.